The USDA 9006 Grant Program is available to provide 25% of the cost of a solar electric photovoltaic system. The local USDA office anticipates the 2008 Notice of Funding Availability soon. Possible deadline for applications could be Mid May 2008. 51% of your tax income must be from the agricultural business. • Tennessee’s Grant Program, TN-CET (Tennessee Clean Energy Technology), Is available for businesses that have an existing building at least 3 years old and are for-profit. Home businesses are not eligible. (A separate meter on a barn or other farm structure will qualify). Non-profits, schools, religious organizations and government buildings are not eligible. The grant is for 40% of the installed cost and maximum amount is $75,000. • There is also a 30% federal tax credit (not a deduction, but a credit). Most companies count the grant money as income so that the 30% tax credit can apply to the entire cost and not just the amount beyond the grant. • Additionally federal tax law, through ePact 2005, provides for 5 year accelerated depreciation.
Archive for July, 2009
Did you know that the sun provides over 35,000 times the total amount of energy that humans use every day? Solar energy is the most abundant, reliable, and cleanest form of renewable energy on the planet. With the rise energy costs, and increased environmental awareness, solar power is quickly becoming a feasible and affordable energy option for home use, but the best part about the sun is that it follows around even when you leave your home. That creates virtually unlimited potential for mobile solar applications such as RV Solar Kits and Solar Back Packs. Mobile solar gives you the freedom to go more places and do more things without having to sacrifice the use of your favorite comforts and conveniences. Plus, solar battery charging can play a very important role in any traveler’s precautionary emergency arsenal.
Did you know:
On an even smaller scale, making tiny changes can create huge results. For example, if every U.S. household replaced only one burned-out bulb with an energy-efficient, ENERGY STAR rated compact fluorescent bulb, it would prevent greenhouse gas emissions equivalent to that of nearly 800,000 cars. It would also save enough energy to light 2.5 million homes for a year.
Check out this free E-Book I found: http://www.turnback789.com
Guys this is good news, now you will affectively get $0.12 on top of your purchased power back from TVA. Instead Like here in Nashville, TN $0.088 per KWH you will get $0.088 + $0.12 = $0.208 back for every KWH your Solar system produces. Well on top of that TVA adds an incentive of $1000.00 for you get to keep if you have not yet installed a solar array, to offset the initial installation expense a little!!!!
Now I have run this through my solar Calculator for 50% power regeneration of current electric bill $90.00 / month this brings the net cost after the first year (Tax Return) to $21712 installed at $9.00 KWH. (this is 4 KW solar system) – or if you go for the full 100% of E-bill, net cost after the first year (Tax Return) to $44425 installed at $9.00 KWH. (this is 8 KW solar system). On both calculations your “Break Even” point is in the 11th year! Even though if you now figure in the financing (6%) for 20 Years (life time of Solar panels) your looking at $155.55 or $318.27, still your immediate net monthly savings is in the green with $36.05 or $64.94 per month. And don’t forget you deduct the financing at 100% against your 28% or so tax bracket as well. Guys this is a WIN-WIN situation, don’t delay the Power Revolution any longer!
TVA will purchase all of the green energy output at a rate of 12 cents per kilowatt-hour for solar and 3 cents per kilowatt-hour for other renewable generation as a premium payment above the retail rate and any fuel cost adjustments.
I found this today and thought it might be of interest to you guys that are struggling with do I or do I not do my home over for some energy improvements…
What Does Energy Improvement Mortgage Mean?
A mortgage that sets money aside for home improvements that will increase energy efficiency within the home. Energy improvement mortgages are available when a house is being purchased or refinanced. A certified home energy rater will examine the home and suggest improvements; once the improvements have been made and confirmed,…
Ralph's Going Green Blog 